MobiKwik IPO Share Price Highlights: The stock saw a strong debut on NSE, BSE. It listed at 57% premium to issue price. The issue received an overwhelming response from the investors. They subscribed to the issue a total of 125.69 times. The retailers booked it 141.78 times and NIIs 114.7 times. The QIBs subscribed to the IPO 125.82 times.
Mobikwik raised Rs 572 crore by selling 2.05 crore fresh shares. The IPO bidding was started on December 11 and ended on December 13. The allotment for Mobikwik IPO was finalised on December 16. The IPO price band ranged from Rs 265 to Rs 279 per share. SBI Capital Markets, DAM Capital Advisors (Formerly IDFC Securities) were the book-running lead managers of the IPO.
MobiKwik Share Price, GMP, Allotment Status Highlights: Mobikwik GMP, price band, subscription status latest
MobiKwik IPO Share Price Live Updates: Anchor Investor Lineup
Prominent foreign and domestic institutions that participated in the anchor investor segment included major names such as the Government Pension Fund (Norges Fund), Eastspring Investments, Morgan Stanley Investments, White Oak Capital, 360 One Asset & Wealth Management, HDFC Mutual Fund, Axis Mutual Fund, SBI Mutual Fund, and SBI General Insurance, among others.
MobiKwik IPO Share Price Live Updates: User Base and GMV Surge
By September 30, 2023, MobiKwik had a user base of 146.94 million registered users and a 3.81 million merchants to accept payments both online and offline. Over the years, the company reported a growth, with its Payment GMV ralling by 32.33 per cent annually. Meanwhile, the MobiKwik ZIP service, focused on disbursements, surged of 354.86 per cent between Fiscal 2021 and Fiscal 2023.
MobiKwik IPO Share Price Live Updates: Objectives of the Issue
MobiKwik plans to use the funds raised from its IPO for a range of purposes. The company aims to allocate a significant portion towards expanding its financial services and payment services businesses. Additionally, MobiKwik will invest in cutting-edge technologies like data analytics, machine learning, and artificial intelligence to enhance its products and services.
Moreover, a part of the funds will also go towards upgrading its payment devices business, with further capital expenditure planned. Lastly, the company will reserve some of the proceeds for general corporate needs.
MobiKwik IPO Share Price Live Updates: Anchor investors
Before the opening of the public issue on December 11, Mobikwik secured Rs 257.40 crores from anchor investors on December 10.
The shares of MobiKwik surged to the high of Rs 524 per share in the first hour of its trading. At the 11:20 AM IST, the shares were trading at Rs 508.85 per, up by 15.06 per cent on BSE. Similarly on NSE, the shares traded at Rs 509.65, taking its overall value to Rs 509.65 per share, during the trading hours.
The shares debuted at Rs 442.25 on the BSE and Rs 440 on the NSE, marking a premium of 57.7 per cent over the IPO price.
Also Read: Mobikwik IPO Allotment Highlights: Check key details of the issue
MobiKwik IPO Share Price Live Updates: Listed at 58.5% Premium
MobiKwik made a strong stock market debut on Wednesday, listing at Rs 442.25 on the BSE, a substantial 58.5 per cent premium over its IPO's upper price band of Rs 279.
MobiKwik IPO Share Price Live Updates: Subscription Numbers
Mobikwik's IPO during its three-day subscription period from December 11 to 13, achieved an overall subscription of 125.69 times, with retail investors leading the charge by subscribing their portion 141.78 times. Non-Institutional Investors (NIIs) was subscribed 114.7 times, while Qualified Institutional Buyers (QIBs) closely followed with a subscription of 125.82 times.